[Form 4] Zurn Elkay Water Solutions Corporation Insider Trading Activity

Rhea-AI Filing Summary

David J. Pauli, a director and Chief Financial Officer of Zurn Elkay Water Solutions Corp (ZWS), reported transactions on Form 4 for activity dated 08/14/2025. The filing discloses a gift of 1,691 shares of common stock (reported as a disposition at $0), leaving him with 58,668 shares held directly. An additional 794 shares are reported as indirect ownership through a 401(k) plan. The filing also shows fully vested stock options: 13,816 shares at $11.37 (exercisable 05/19/2027), 5,757 at $14.22 (exercisable 05/25/2028), and 6,136 at $33.05 (exercisable 10/05/2031), each listed as direct ownership. The form is signed under power of attorney.

Positive

• Transparent reporting of insider transactions including a gift and detailed option holdings
• Substantial direct ownership remains: 58,668 shares held directly after the reported disposition
• Fully vested options disclosed with strike prices and exercisable/expiration dates for investor visibility

Negative

• Disposition by gift of 1,691 shares (reported at $0), which reduces the reporting person's direct share count

Insights

Financial Analyst

TL;DR: Insider made a small gift and holds substantial direct shares plus multiple vested options; no sale for cash is reported.

The filing documents a 1,691-share gift and confirms continued insider stake with 58,668 direct shares and 794 indirect shares via a 401(k). The presence of multiple fully vested options totaling 25,709 underlying shares at varying strikes provides potential future equity exposure if exercised. This disclosure is routine and does not show cash-generating dispositions or option exercises.

Corporate Governance Expert

TL;DR: Disclosure appears complete for the reported transactions; a gift was made and vested option holdings are reported.

The Form 4 lists a bona fide gift and details of vested stock options, with proper reporting of direct and indirect ownership. The filing includes an authorized signature executed under power of attorney, which is acceptable when documented. No indications of non-compliance are visible from the disclosed information.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Pauli David J

(Last) (First) (Middle)

511 W. FRESHWATER WAY

(Street)

MILWAUKEE WI 53204

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Zurn Elkay Water Solutions Corp [ ZWS ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Financial Officer

3. Date of Earliest Transaction (Month/Day/Year)
08/14/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	08/14/2025		G		1,691	D	$0(1)	58,668	D
Common Stock								794	I	By 401(k) Plan(2)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Stock Option (right to buy)	$11.37							(3)	05/19/2027	Common Stock	13,816		13,816	D
Stock Option (right to buy)	$14.22							(3)	05/25/2028	Common Stock	5,757		5,757	D
Stock Option (right to buy)	$33.05							(3)	10/05/2031	Common Stock	6,136		6,136	D

Explanation of Responses:

1. Bona fide gift.

2. Based on information from the trustee of the 401(k) Plan.

3. Option fully vested.

Remarks:

	/s/ Jeffrey J. LaValle under Power of Attorney for David J. Pauli	08/15/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What did ZWS insider David J. Pauli report on Form 4?

The filing reports a gift of 1,691 shares on 08/14/2025, leaving 58,668 direct shares and 794 indirect shares via a 401(k), plus vested options.

How many stock options does David J. Pauli have and what are the strikes?

Reported vested options total 13,816 shares at $11.37, 5,757 at $14.22, and 6,136 at $33.05 with exercisability and expiration dates listed.

Was the disposition a sale for cash for ZWS insider activity?

No; the 1,691-share disposition is reported as a bona fide gift with a $0 price, not a cash sale.

Does the Form 4 indicate any option exercises or cash proceeds?

No; the Form 4 shows vested options but does not report any option exercises or proceeds from sales.

Who signed the Form 4 for David J. Pauli?

The form is signed by /s/ Jeffrey J. LaValle under power of attorney for David J. Pauli, dated 08/15/2025.